The quarterly survey found that banks are expecting to tighten standards for business loans as well as credit cards and jumbo mortgages this year. Banks were already starting to tighten standards on credit cards in the fourth quarter, according to the survey.

Asked about the quality of their loans over 2019, as measured by delinquencies and charge-offs, most banks said they expected the performance to remain unchanged. But in every loan category, either a “moderate or significant” net percentage of banks said they saw their loan performance would “deteriorate somewhat” this year. In contrast, no more than two banks reported they expected some improvement in any category.

Banks also reported they expected weaker demand for most loan categories.

The loan officers told the Fed that a reduction in risk tolerance also contributed to the expected tightening of standards.